The UK is about to change into the most important leisure and media market in Europe, overtaking Germany, in accordance with PwC’s newest International Leisure & Media (E&M) Outlook 2022-2026.
UK E&M income is predicted to achieve £83 billion this yr. PwC’s report predicts that the UK market will obtain progress of 4% yearly over the following 4 years, the second quickest progress fee in Western Europe. UK E&M income for subsequent yr will see the UK change into the main market in Europe and by 2026 income is anticipated to generate £97 billion, in accordance with the report.
The UK will proceed to be the main marketplace for over-the-top video in Western Europe and the third largest market globally after the US and China, says the report.
Total UK OTT video income is forecast to achieve £3.6 billion this yr earlier than rising at 6% p.a. over the forecast interval
PwC additionally predicts that digital actuality and cellular augmented actuality income will virtually double through the forecast interval. The UK will stay the most important VR market in Europe, Center East and Asia and the expansion for the sector is forecast to be pushed primarily by video video games content material with the sector set to construct on the success of the Meta Quest 2 headset.
Promoting will drive income within the UK’s cellular AR market with branded filters changing into extra of an vital car on photograph and video-sharing apps.
Spending on web entry, each at house and on cellular within the UK is forecast to develop at a CAGR of 5%, pushed by cellular web entry which is forecast to overhaul mounted broadband entry subsequent yr after which past and by the top of the forecast interval to account for 53% of whole web entry income.
Web promoting income is forecast to develop to £26 billion this yr and by 6% a yr to 2026 which can equate to only over a 3rd of total E&M income.
